Fantom is a blockchain protocol renowned for its high scalability and for its increased security, it has become a benchmark blockchain. Constantly in search of innovation, Fantom unveils its new project to the general public. This involves setting up the “Ecosystem Vault”, a decentralized safe. The presentation took place on January 19, 2023.
“Ecosystem Vault” in a nutshell
Not so long ago, Fantom revealed its 2023 goals. They were broadly focused on creating a better environment for dApp developers. With this in mind, he unveils his very first project: the launch of Ecosystem Vault. It is a decentralized vault for funding all kinds of blockchain-based projects and applications.
As explained in an official blog post, it is an on-chain fund financed by 10% of the transaction fees recorded on the Fantom blockchain. Concretely, Ecosystem Vault will reduce the burn rate of FTM. The 10% discount will then be redirected to the safe.
Another essential point to remember: the Ecosystem Vault decentralized financing system is entirely based on a community decision-making process.
“Ecosystem Vault”: a decentralized finance system controlled by the Fantom community
Any request for funding must obtain the approval of at least 55% of the community. In addition, at least 55% of FTM stakeholders must provide funding.
Once the project is approved, payments will be made manually through the Fantom platform. More exactly, we will use various tools like Llamapay. Regarding the payment, the developers of this new system have agreed on one point: the Fantom community will add a certain period of acquisition instead of giving everything to the founder of the project at once. The goal: to ensure that the founder of the project works continuously.
With the launch of the “Ecocystem Vault” project, Fantom announces its big comeback. Since the beginning of the year, the value of FTM has not ceased to increase gradually. A more considerable increase will even be expected after the announcement of the launch of Ecosystem Vault.
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